Read the story here. Advertise at Before It's News here.
Profile image
By Borderland Beat
Contributor profile | More stories
Story Views
Last hour:
Last 24 hours:

Top Sinaloa Cartel Money Launderer 'El Rey Midas' Extradited to the US

% of readers think this story is Fact. Add your two cents.

“MX” for Borderland Beat

Juan Manuel Alvarez Inzunza
Juan Manuel Alvarez-Inzunza, a former high-ranking Sinaloa Cartel money launderer, was extradited to San Diego, California, on Wednesday to face federal charges.

Nicknamed “El Rey Midas” (King Midas), he is alleged to have laundered millions of dollars for Mexican drug kingpins Joaquin “El Chapo” Guzman and Ismael “El Mayo” Zambada.

Investigators estimated that El Rey Midas laundered between US$300 to US$400 million annually for the Sinaloa Cartel, which comes out to more than US$4 billion in a decade.

“Juan Manuel Alvarez-Inzunza is responsible for moving millions of dollars in illicit drug proceeds from the United States into Mexico,” said Cardell T. Morant, Special Agent in Charge for Homeland Security Investigations (HSI) in San Diego.

“We stand dedicated and united with our law enforcement partners to continue dismantling these organizations; ensuring they can no longer hide from the authorities and that they will ultimately be brought to justice.”


El Rey Midas was born in 1981 in Culiacan, Sinaloa, Mexico. In March 2016, while on vacation with his family, he was arrested in the Mexican state of Oaxaca under a US extradition request.

Following his capture, Mexican officials confirmed that he was the operator of a large money laundering network that had domestic links to Tijuana, Culiacan, and Guadalajara, and international links to Colombia, Panama, and the US.

El Rey Midas was reportedly using shell companies and currency exchange houses in Jalisco and Sinaloa to conceal the origins of the illicit funds.

In August 2016, the US Office of Foreign Assets Control (OFAC) sanctioned him and two of his companies under the Foreign Narcotics Kingpin Designation Act (Kingpin Act). The two Sinaloa-based companies were Nueva Atunera Triton, a tuna fishing company, and Operadora Eficaz Pegaso, a money services business.

Summary of charges
  • Conspiracy to Launder Monetary Instruments (18 U.S.C. 1956(h))
  • Conspiracy to Distribute Cocaine Intended for Importation (21 U.S.C. 959, 960, 963)
  • Conspiracy to Import Cocaine and Methamphetamine (21 U.S.C. 952 and 960)
  • Conspiracy to Distribute Cocaine and Methamphetamine (21 U.S.C. §841(a)(1) and 846)
Arrest and background sources: El Universal; OFAC Designation; OFAC Chart


Before It’s News® is a community of individuals who report on what’s going on around them, from all around the world.

Anyone can join.
Anyone can contribute.
Anyone can become informed about their world.

"United We Stand" Click Here To Create Your Personal Citizen Journalist Account Today, Be Sure To Invite Your Friends.

Please Help Support BeforeitsNews by trying our Natural Health Products below!

Order by Phone at 888-809-8385 or online at M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at M - F 9am to 5pm EST

Order by Phone at 888-388-7003 or online at M - F 9am to 5pm EST

Humic & Fulvic Trace Minerals Complex - Nature's most important supplement! Vivid Dreams again!

HNEX HydroNano EXtracellular Water - Improve immune system health and reduce inflammation

Ultimate Clinical Potency Curcumin - Natural pain relief, reduce inflammation and so much more.

MitoCopper - Bioavailable Copper destroys pathogens and gives you more energy. (See Blood Video)
Oxy Powder - Natural Colon Cleanser!  Cleans out toxic buildup with oxygen! 
Nascent Iodine - Promotes detoxification, mental focus and thyroid health.
Smart Meter Cover -  Reduces Smart Meter radiation by 96%!  (See Video)

Immusist Beverage Concentrate - Proprietary blend, formulated to reduce inflammation while hydrating and oxygenating the cells.

Report abuse


Your Comments
Question   Razz  Sad   Evil  Exclaim  Smile  Redface  Biggrin  Surprised  Eek   Confused   Cool  LOL   Mad   Twisted  Rolleyes   Wink  Idea  Arrow  Neutral  Cry   Mr. Green

Load more ...




Email this story
Email this story

If you really want to ban this commenter, please write down the reason:

If you really want to disable all recommended stories, click on OK button. After that, you will be redirect to your options page.